Pricing is not an art. However, a well-designed pricing model may be beautiful in the same way as a well-designed piece of machinery. Pricing is a science as much as the design of that machinery is a science. If the person responsible for establishing price says, “Pricing is an art,” it is a good indication that the he or she is missing much of the basic data necessary to make informed pricing decisions (Daly, 2002: 2).